AUDUSD Bottom Of Structure, Watch For Buy Opportunity

22 May 2022

Hello everyone:

AUDUSD has started to form some bullish price action on the lower time frame,
and we could potentially see some upside move very soon.

Start from the higher time frame, after the COVID sell off, we see a strong bullish impulse up move form the price.
Naturally price will need to correct to continue, so we see a larger, flag/descending structure in the making.


On the lower time frame, we can see a bit more bullish price action. A nice double bottoms,
fallen wedge reversal are all good development for bullish reversal.

Latest price did have a impulse phase up, breaking above the wedge.
Be on the look out for more continuation price action, to confirm the buy opportunity to the next highs.

thank you

30 May 2022

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